LONDON, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Preferred Hotels & Resorts is pleased to announce the addition of Wynn Al Marjan Island to its prestigious Legend Collection, marking a significant milestone ahead of the resort’s highly anticipated opening in Spring 2027. Located less than 50 miles from Dubai International Airport in the Emirate of Ras Al Khaimah, the US$5.1 billion development represents one of the most ambitious luxury hospitality projects in the Middle East and will introduce a new benchmark for ...

Financial Data and Key Metrics Changes - Wynn Las Vegas reported an adjusted property EBITDA of $240.8 million on operating revenue of $688.1 million, resulting in an EBITDA margin of 35% [13] - Boston's Encore generated adjusted property EBITDA of $57 million on revenue of $210.2 million, with an EBITDA margin of 27.1% [14] - Macau operations delivered adjusted property EBITDA of $270.9 million on $967.7 million of operating revenue, resulting in an EBITDA margin of 28% [15] - The company maintained a strong liquidity position with global cash and revolver availability of $4.7 billion as of December 31 [17] Business Line Data and Key Metrics Changes - In Las Vegas, demand remained healthy with drop, handle, and ADR all up year-over-year, although RevPAR was slightly below last year [6] - Boston's performance showed strong fundamentals with RevPAR, table drop, and slot handle all up year-over-year, despite lower-than-normal table hold [9] - Macau experienced significant volume growth with VIP turnover up 48% and mass drop up 18% year-over-year, although low VIP hold impacted EBITDA by over $16 million [10] Market Data and Key Metrics Changes - The company anticipates that over 55% of revenues will be generated in non-U.S. dollar-denominated markets as it diversifies geographically [5] - The premium segment continues to lead the market, with the expansion of the Chairman's Club at Wynn Palace expected to strengthen the company's position in Macau [11] Company Strategy and Development Direction - The company is focused on geographic diversification, with the opening of Wynn Al Marjan Island seen as a significant step in this direction [3] - Wynn Resorts aims to become one of the most globally diversified companies in the industry, leveraging its brand and customer focus [5] - The company is investing in technology and artificial intelligence to enhance customer experience and operational efficiency [76] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business outlook for 2026, citing strong visibility into group and convention business [7] - The company is optimistic about the future of Macau following sustained double-digit market-wide GGR growth in the latter half of 2025 [10] - Management acknowledged the challenges posed by the Encore Tower remodel, which is expected to impact room availability and revenue [8] Other Important Information - The company announced a quarterly cash dividend of $0.25 per share, payable on March 4, 2026 [18] - The total capital expenditure for 2026 is expected to be between $400 million and $450 million, with ongoing projects in Macau and Wynn Al Marjan Island [17] Q&A Session Summary Question: Outlook for high-end luxury properties in Vegas - Management remains confident in the high-end customer segment and expects to continue pricing rooms effectively despite the impact of the Encore Tower remodel [21][22] Question: OpEx growth expectations for Vegas and Macau - OpEx in Vegas is expected to remain disciplined, with projections of $4.3 million to $4.5 million per day outside major events [25] - Macau's OpEx is aligned with expectations of $2.7 million to $2.9 million per day, influenced by strong business volumes [26] Question: Margin expansion potential in Vegas - Management does not provide specific margin guidance but focuses on maximizing revenue and managing OpEx effectively [30] Question: Impact of the World Cup on business - Management has a targeted strategy to leverage the World Cup's proximity to boost business, particularly in Vegas [72] Question: Insights on the new Chairman's Club space - The expansion of the Chairman's Club is expected to triple its size and enhance the experience for high-value customers, with an opening planned for Chinese New Year [44][45] Question: Updates on Wynn Al Marjan Island - Rooms are expected to go on sale in late Q3 or early Q4, with ongoing construction and a strong transportation strategy to attract visitors [94][95]

Core Insights - Wynn Resorts, Limited will hold an Analyst & Investor UAE Market Tour to discuss the UAE market and the Wynn Al Marjan Island project on December 4, 2025 [1][2] - The event will feature presentations from CEO Craig Billings and the Wynn Al Marjan Island management team, focusing on the resort's expected financial performance [2] - Attendance is by invitation only for institutional investors and analysts, with the investor presentation available on the company's investor relations website [3] Financial Performance - The financial results for the third quarter ended September 30, 2025, were reported by Wynn Resorts, indicating ongoing financial activities and performance metrics [5]

Core Insights - Wynn Resorts and Marjan LLC have announced the development of Janu Al Marjan Island, a new resort by Aman Group, set to open in late 2028, complementing the existing Wynn Al Marjan Island project [1][3] - Janu Al Marjan Island will focus on a unique hospitality experience centered around human interaction and wellness, featuring 132 rooms with views of the Arabian Gulf, wellness facilities, and various dining options [2][3] - The development of these resorts is part of Ras Al Khaimah's strategy to position itself as a world-class lifestyle and hospitality destination, enhancing its appeal to global travelers [3][7] Company Developments - Wynn Al Marjan Island is set to be the first integrated resort in the UAE, opening in 2027, with 1,530 rooms, 22 dining options, a theater, and a beach club [5][6] - The resort will also include a marina with 99 berths for luxury yachts and a shopping promenade of 15,000 square meters featuring top luxury boutiques [5] - Marjan LLC is focused on developing urban destinations in Ras Al Khaimah, with Al Marjan Island as a flagship project aimed at attracting global investment [7][8] Market Positioning - The collaboration between Wynn Resorts and Aman Group reflects a commitment to creating exceptional experiences that resonate with discerning travelers [3] - The introduction of Janu Al Marjan Island is expected to drive high-quality visitation to Wynn Al Marjan Island, enhancing the overall guest experience [3] - The developments are aligned with Ras Al Khaimah's long-term economic strategy, aiming to create vibrant communities and attract foreign investment [7][8]

Core Insights - Wynn Al Marjan Island is a $5.1 billion integrated resort under construction in Ras Al Khaimah, set to open in Spring 2027, featuring its first two announced restaurants: an Alain Ducasse steakhouse and a Middle East location of Delilah [2][6] - The resort will include a total of 22 restaurants and lounges, designed to provide a unique and luxurious experience for guests [2][3] Restaurant Details - The Alain Ducasse steakhouse will span approximately 1,820 square meters over two floors, offering a menu that combines French and American influences, including dishes like Duck Foie Gras Brioche and a premium "Beef Club" menu with tableside service [4][5] - Delilah will occupy around 2,060 square meters on the first floor, modeled after 1950s supper clubs, featuring live music and a menu that includes Beef Wellington and Chicken Tenders, with a focus on regional ingredients [5][6] Strategic Partnerships - The Delilah concept is developed in partnership with The h.wood Group from Los Angeles, marking its debut in the Middle East, aiming to provide a unique luxury dining experience [5][6] - Wynn Resorts operates properties in various global locations, including Las Vegas and Macau, with Wynn Al Marjan Island being its first project in the Middle East [6]

Financial Performance & Growth - Wynn Resorts reported a total Adjusted Property EBITDAR of $22 billion for the last twelve months (LTM) ending in the second quarter of 2025[29] - Las Vegas operations showed strong performance with a new second quarter EBITDA record[40] - Macau operations generated significant free cash flow and maintained a healthy market share[33] - Encore Boston Harbor demonstrated stable operating performance as the East Coast's only Forbes 5-Star Casino Resort[34] - Wynn Al Marjan Island is expected to add approximately $345 million in EBITDAR to the existing base upon opening[29] Capital Allocation & Investments - Approximately $135 billion, or about 12% of gross shares, has been returned to Wynn Resorts, Limited shareholders since 2022[29] - The company anticipates remaining equity contributions of $600-$675 million for the Wynn Al Marjan Island project[69] - Wynn Macau is undertaking capital expenditure projects estimated between $200-$250 million in 2025 and $450-$500 million in 2026[71] Liquidity & Debt - Wynn Resorts has total liquidity of $17 billion[82] - Wynn Macau has total liquidity of $28 billion[82]